Franklin Templeton Joins XRP ETF Race, Fueling Market Optimism

Investment giant Franklin Templeton, managing $1.53 trillion in assets, has filed for an XRP exchange-traded fund (ETF), intensifying competition in the growing crypto ETF space. The firm follows smaller players like Bitwise, Canary Capital, 21Shares, Grayscale, and WisdomTree, whose proposals have already been acknowledged by the U.S. Securities and Exchange Commission (SEC).

Analysts see the SEC’s acknowledgment as a promising development, particularly after the departure of former Chairman Gary Gensler, who was known for his strict stance on crypto. However, it remains uncertain whether the regulator will approve any of these filings. The SEC is set to decide on Grayscale’s XRP ETF proposal by October 18, a deadline closely watched by the market.

Meanwhile, Volatility Shares has proposed more complex XRP ETF products, including an option allowing investors to bet against XRP’s price. This move reflects growing institutional interest in Ripple’s native token.

The XRP market responded positively to Franklin Templeton’s filing, with the token’s price surging over 5% in the past 24 hours, according to CoinGecko. The increasing institutional push into XRP ETFs signals potential mainstream adoption, driving investor enthusiasm.

With major financial firms entering the XRP ETF space, the crypto market is witnessing heightened anticipation. Whether the SEC greenlights these applications could significantly impact XRP’s trajectory and broader crypto investment trends.